Category: U.S. Relocation

Relocation Policy Examples: What Typical Domestic Relocation Packages Include

Jerry Funaro | January 22, 2020

When originally conceived, the typical domestic relocation package was a generous suite of benefits. Companies tailored these relocation packages for senior level managers who owned an often-expensive home, planned to buy a new one at the destination and had considerable personal effects to move. They frequently centered on a Guaranteed Buyout Program, where the company would buy the employee’s home if s(he) could not sell it in a timely manner. Because these were executives, the objective of getting them in place at the destination as quickly as possible trumped cost considerations. Read More

Which Employee Relocation Benefits are Most Popular, which are Not

Jerry Funaro | January 8, 2020

SHRM’s 2018 Employee Benefits Study assessed the prevalence of more than 300 employee relocation benefits and found that lump sum payments are the single most popular relocation benefit offered by the surveyed companies, offered by 28% of responding companies. Other relocation benefits most offered in 2018 included temporary relocation benefits (16% of companies), location visit assistance (16%), reimbursement of shipping fees (12%), and cost-of-living differentials (11%).

However, just as important as understanding the most popular benefits to relocating employees is understanding which benefits are less popular. Because companies periodically reassess their relocation policies to ensure they are remaining competitive in the marketplace and offering benefits employees currently want and use, it’s important to know which benefits have become less necessary and desirable. Read More

What Types of Companies and Industries Benefit Most from Outsourcing Global Mobility Services?

Jerry Funaro | January 3, 2020

To put it succinctly, virtually any company or industry can benefit from outsourcing global mobility services. As a relocation management company (RMC), we will let you in on a secret: mobility is probably one of the most cumbersome of all benefits to attempt to administer in house.

A typical domestic relocation might include counseling, expense administration, tax gross-up, home selling assistance, household goods transportation, temporary housing and home finding assistance. Many third parties are part of this process, bringing further complexity, as a company must source, vet and manage each of their services.

2020 Relocation Home Sale Assistance and Finding Trends Impacting Mobility Policy

Jerry Funaro | December 23, 2019

With the rebound of the U.S. real estate market and the current competition for talent, companies that distanced themselves from home sale assistance often have found themselves at a disadvantage. However, given the current trends impacting U.S. domestic relocation policy, it’s worth taking another look at relocation home sale assistance as a strategic tool for at least some employees. Read More

Domestic Relocation Policy Trends for 2020: Best Practices for Your Mobility Policy

Jerry Funaro | December 16, 2019

This is a particularly dynamic time for companies that relocate employees within the U.S. Several overarching social and demographic trends are influencing the way we work, and employee expectations can vary greatly across generations, locations and industries. Similarly, company needs and competitive situations can vary widely, depending on industry, location and business strategy. A start-up company likely will have different mobility goals than an established corporation.

The term “best practices” recognizes an ongoing industry collaboration to identify ideas or solutions that increase employee and business stakeholder satisfaction while creating efficiencies. The current U.S. domestic best practices outlined in our latest eBook for global mobility professionals provide a useful starting point for developing or reviewing your own domestic relocation policy. Ultimately, your company’s best practices will be the policy elements most closely aligned with your culture and business objectives.

Selecting Core Flex Program Benefits and Administering

Jerry Funaro | August 5, 2019

The core relocation benefit ensures there is some level of parity and predictability among relocating employees and that all employees receive the basic benefits needed to get the transfer done. For domestic relocations, such a core flex program benefit might include: relocation counseling, home marketing assistance, rental or home finding assistance, final trip to the destination, and shipment of household goods.

Additional flexible elements that could be matched to the employee’s requirements could include: Read More

Pros & Cons of Core-Flex Relocation Programs

Jerry Funaro | July 26, 2019

Core-flex relocation programs build in flexibility and minimize costly exceptions, and ultimately this model can increase employee satisfaction and acceptance rates for both international relocations and domestic relocations. In addition, a carefully considered core-flex program can help companies to:

– Gain a recruiting edge

– Tailor relocation benefits more closely to employee or candidate needs

– Make employees feel more valued and invested in the process

– Empower hiring managers, business units, regional locations, etc.

– Eliminate or at least dramatically reduce exceptions

The Evolution of the Core Flex Model for Employee Relocation Programs

Jerry Funaro | July 16, 2019

The core-flex model has become one of today’s most talked-about employee relocation programs. As the name suggests, core-flex incorporates a defined, core relocation benefit and a flexible selection of optional benefits to supplement this core. Along with lump sum packages, core-flex programs are an increasingly popular way to add flexibility and align mobility benefits with employee needs.

Two major factors are driving the need for more agile mobility programs: the keen battle for talent in a full-employment labor market and the growing population of millennial transferees. Recruiters and hiring managers who are eager to sign the best talent need every tool at their disposal, including mobility benefits that make relocation more attractive. For their part, millennials are accustomed to an array of choices in almost every aspect of their lives. They value personal control and dislike corporate mandates.

Global Mobility Industry Disruption: One Talent Mobility Leader Shares his Management Philosophy

Jerry Funaro | June 24, 2019

During Worldwide ERC’s Americas Mobility Conference in Atlanta, WERC President & CEO Peggy Smith caught up with TRC Global Mobility’s Leo Capotorto to talk disruption, innovation and trends within the talent mobility industry.

Leo came to the US from Argentina and he brings a unique perspective to the mobility business. He points to his culture in shaping his philosophy of not making a big deal over the disruptions that will inevitably impact the industry, but instead to “go with the flow.” He emphasizes that disruption is a “good thing,” but advises that you have to adapt fast. Read More

Pros & Cons of Domestic Relocation Pre-Decision Programs and Why They are Crucial for Your Business

Jerry Funaro | May 9, 2019

A pre-decision program has long been an integral part of international relocation. However, for domestic relocations, most employers left it up to the employees and their families to determine if the relocation was a good idea, leaving them to consider:

Blurred motion of business people walking - pre-decision planning for US Relocation

Home sale and purchase ramifications
Cost-of-living changes
Whether the spouse or partner will be able to find employment in the new location
Children’s education
Healthcare availability
Neighborhood considerations
The employee’s and family’s readiness and suitability for relocation

Category: U.S. Relocation

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